The goal of data analytics is to get results to make better decisions and better outcomes for business. Think about Descriptive, Predictive, and Prescriptive analytics and provide some examples with your thoughts behind your statements.

Answers

Answer 1
Answer:

Answer:

Explanation:

Data analysis is a process used to explore, refine, modify, and model the data for finding useful information, making conclusions, and making decisions. Data analysis is a process used to obtain raw data and to make it more user-friendly by decision-making. The data is collected first, and then analyzed to answer questions, test hypotheses, or reject theories.

Descriptive analysis or statistics are one of the three basic parts of statistics science. It is the statistics about compiling, collecting, summarizing and analyzing numerical data. The main difference of descriptive statistics from inferential statistics or inductive statistics with more appropriate terms is that the goal of descriptive statistics is to express and summarize a data set as quantitative number values ​​or count or sort values, and about the character of the statistical population that is accepted to represent such data as inferential statistics. is not the goal of obtaining analytical expressions for predictive or hypothesis testing. Even though the analysis of quantitative data is a study aimed at obtaining its main results using inductive statistical analysis, descriptive statistics tools must be used to support formal analysis. For example, a study involving a formal statistical analysis with topics of human behavior typically covers the overall sample size, sample size of important subgroups, average age, male / female ratios of people treated as data subject, and various demographic, social or clinical characters. supplied with tables.

Predictive analytics is a class of data analysis methods that focuses on predicting the future behavior of objects and subjects in order to make optimal decisions. Predictive analytics uses statistical methods, data mining methods, game theory, analyzes current and historical facts to make predictions about future events. In business, predictive models use patterns found in historical and executed data to identify risks and opportunities. Models capture relationships among many factors to make it possible to assess the risks or potential associated with a particular set of conditions, guiding decisions about possible transactions. It is used in actuarial calculations, financial services, insurance, telecommunications, retail, tourism, healthcare, pharmaceuticals and other fields. One of the well-known applications is credit scoring, scoring models process credit history, loans, consumer data and other information and provide an assessment of a potential borrower in terms of prospective solvency and forecast of timely payments on loans. One of the drawbacks of predictive analytics is the weak accounting for qualitative shifts, changes after bifurcation points, since they are built on quantitative, probabilistic methods.

The prescriptive analysis is the third and final phase of the business analysis. Extended prescriptive analysis beyond predictive analysis specifying both the actions necessary to achieve the predicted results and the related effects of  decision. This phase of analysis uses the suggestions of the applications of mathematical and computational sciences to take advantage of the results of descriptive and predictive analyzes. Usually, in a first phase a descriptive analysis is made, widely used in the majority of today's business areas and it answers the question of what happened and why. Then a predictive analysis is done or should be done that answers the question of what will happen: historical data is combined with rules, algorithms and occasionally data external to the company or organization to determine a probable event. Finally, the prescriptive analysis phase which aims to recommend actions for the benefit of predictions and show their implications and why they will occur


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A firm's current profits are $1,400,000. These profits are expected to grow indefinitely at a constant annual rate of 4 percent. If the firm's opportunity cost of funds is 7 percent, determine the value of the firm: Instructions: Enter your responses rounded to two decimal places. a. The instant before it pays out current profits as dividends. $ 49933333.33 million b. The instant after it pays out current profits as dividends.
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month: Cost Formulas Direct labor $16.30q Indirect labor $4,100 + $2.00q Utilities $5,100 + $0.50q Supplies $1,300 + $0.40q Equipment depreciation $18,100 + $2.50q Factory rent $8,500 Property taxes $2,700 Factory administration $13,300 + $0.60q The Production Department planned to work 4,200 labor-hours in March; however, it actually worked 4,000 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March Direct labor $ 66,780 Indirect labor $ 11,680 Utilities $ 7,590 Supplies $ 3,190 Equipment depreciation $ 28,100 Factory rent $ 8,900 Property taxes $ 2,700 Factory administration $ 15,050 Required: 1. Prepare the Production Department’s planning budget for the month. 2. Prepare the Production Department’s flexible budget for the month. 3. Calculate the spending variances for all expense items.
Julio Company purchased a $200,000 machine that has a four-year life and no salvage value. The company uses straight-line depreciation on all asset acquisitions and is subject to a 30% tax rate. The proper cash flow to show in a discounted-cash-flow analysis as occurring at time 0 would be:(A) $15,000.(B) $50,000.(C) $140,000.(D) $35,000.(E) $200,000.

Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares. Ben sold his shares to Joe for $10,000 on March 31, 1998. The corp. reported a $50,000 loss at the end of 1998.How much of the loss is allocated to Joe?
A. $20,000
B. $15,060
C. $12,500
D. $10,000

Answers

Answer: $15,060

Explanation:

From the question, we are informed that Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares.

We are further told that Ben sold his shares to Joe for $10,000 on March 31, 1998 and that the corp. reported a $50,000 loss at the end of 1998. The loss that will be allocated to Joe will be:

= $50,000 × 40% × 9/12

= $50,000 × 0.4 × 0.75

= $15,000

The closest figure we have close to that is $15,060 which is option B

Highlight the possible risks and problems that should be address during the implementation process?

Answers

Answer:

In simple words, implementation process refers to the stage under which the strategies and plans are converted into actions. This is one of the main stages as the overall result depends highly on this stage.

In this stage, the supervisor should make sure that the workers are giving their fullest for the job, are the resources needed to perform the job available in adequate quantity.

The best way to implement any strategy is to make short goals with short time periods and evaluate each phase if he team is performing up to the mark.

Bakery a sells bread for $2 per loaf that costs $0.50 per loaf to make. bakery a gives a 70% discount for its bread at the end of the day. what is the salvage value of its bread?

Answers

Answer: $0.60

Price per loaf: $2

Discount given for its bread at the end of the day= 70%

Solution:

Salvage value is the estimated resale value of a product at the end of its useful life. Since theuseful life of the loaf is 1 day and it was sold at the end of the day at 70%off, the salvage value is  

$2 × (1 - 70%)

$0.60.

Final answer:

The salvage value of the bread from Bakery A at the end of the day, following a 70% discount, is $0.10 per loaf. This is calculated by subtracting the cost to make the bread ($0.50) from the discounted selling price ($0.60).

Explanation:

The salvage value of the bread from Bakery A can be calculated by subtracting the cost of production from the discounted selling price. The initial selling price of the bread is $2.00, and the cost to make a loaf is $0.50. However, at the end of the day, Bakery A gives a 70% discount on its bread. So, the discounted selling price is now 30% of the initial price, which is $2.00 * 0.30 = $0.60.

Given that the cost to make the bread is $0.50, the salvage value of the bread is the discounted selling price of $0.60 minus the cost to make the bread which is $0.50. So, the salvage value is $0.60 - $0.50 = $0.10.

Learn more about salvage value here:

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Find the account balance at the end of the second period for $3,000.00 invested at 9% compounded quarterly.

Answers

Answer:

A = $3136.51875

Explanation:

Given that :

The principal = $3,000.00

Rate = 9%

Time = 6 months

Since the amount is compounded quarterly;

r = 9/4 = 2.25 %

t = 6 months = 2 quarter

Using the formula:

A = P(1+r/100)^t

A = 3000.00(1+ 2.25/100)^2

A = 3000.00( 1+ 0.0225)^2

A = 3000.00 (1.0225)^2

A = 3000.00 (1.04550625)

A = $3136.51875

Aggregate Planning is a. the activity of developing a plan that combines the efforts of the firm and its suppliers. b. the activity of developing a plan that combines the efforts of the firm and its distributors. c. the activity of matching supply of output with demand over the medium time range. d. the activity of matching supply of output with demand over the short time range. e. All of the above.

Answers

Answer:

C. the activity of matching supply of output with demand over the medium time range.

Explanation:

Aggregate Planning is the activity of matching supply of output with demand over the medium time range through the use of information gotten from the inventory levels.

This ultimately implies that, an aggregate planning is a strategic technique used by organizations to make an aggregate plan for its manufacturing (production) process typically ahead of time, in order to have an idea of the level of goods are to be produced and what resources are required so as to reduce the total cost of production to its barest minimum.

Hence, aggregate planning is an attempt to forecast consumer demands within the criteria set by product, production process and distribution methods i.e within the intermediate range of its capacity.

Rapid prototyping could be an advantageous methodology for developing innovative computer-based instruction. Software engineers have been successful in designing applications by using rapid prototyping. So it also could be an efficient way to do instructional design.

Answers

Answer:

Yes Rapid prototyping can be an efficient way to do instructional design. Rapid prototyping is an instructional design approach which combines design, developmental and evaluation process. it is also a non-linear approach.

Explanation:

As a non linear approach, Rapid prototyping produces a sample working model that is a scaled-down representative version of the whole course. Rapid prototyping can be seen as an alternate approach to the traditional instructional design.

Instructional design is defined as the systematic approach to the development of instruction through the use of analysis, design, development, implementation and Evaluation. Designers can make use of Rapid prototyping or rapid instructional design when they face these factores; Time, budget and Environmental restraints.

Rapid prototyping is a very practical model for blended learning development, especially when only one person is involved. Rapid prototyping allows for learning as even the instructional designer is learning too.

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